We are establishing the Women’s Financial Empowerment and Investing Club to help women plan and work towards more prosperous and independent financial futures. The gender wealth gap is caused by multiple factors, including the fact that women earn less than men; chose or are segregated into lower earning professions; are more likely to be denied mortgages and to be overcharged for them; are particularly vulnerable to predatory lending; hold more debt, especially student loan debt; and save less for retirement. Women enter retirement with $70,000 less in retirement savings than men. These systemic challenges are compounded by the fact that women are often hesitant to invest in equities and instead opt for more conservative investments such as real estate, cash or bonds.
The club will host speakers, read financial literature, and learn more about financial instruments such as index funds, bonds, REITs, retirement accounts, loans and credit scores.
We plan to have a series of lecture lunches with financial industry experts, share financial resources via a group mailing list, attend personal finance conferences, and host financial discussions groups for members. Our club is advised by Caltech’s Chief Investment Officer, Scott Richland, who manages Caltech’s multibillion-dollar endowment.